KUALA LUMPUR (Sept 11): Shares of Felda Global Ventures Holdings Bhd (FGVH) continued to fall to a new low on Tuesday, in line with the broader market which fell prompted by the impending German ruling on eurozone bailout funds and the US Federal Reserve's policy decision.
At 11am, the plantation group's share price was RM4.64, merely nine sen above its listing price of RM4.55.
According to filings on Bursa Malaysia, the Employers Provident Fund (EPF) had been accumulating shares of FGVH at the start of the month although shares of the group continued to slide.
As at Sept 10, EPF held a 6.98% stake in the group, up from 6.62% on Sept 3 and more than 1% higher compared to the 5.01% stake it held as at July 12.
The plantations group recently announced that it will pay RM200.65 million in dividend despite its net profit falling by a third as its plantation earnings halved in the second quarter.
Its second quarter ended June 30 net profit fell 32.55% to RM188.36 million or 5.2 sen a share despite a 75.81% increase in revenue to RM3.54 billion.
For the first half ended June 30, FGVH's net profit stoof at RM380.53 million, 40.39% lower than a year ago while revenue rose 42.1% to RM5.25 billion previously.